Japan released the All Industries Activity m/m and National Core CPI y/y and the US will publish Prelim UoM Inflation Expectations and Prelim UoM Consumer Sentiment.
The support rests at 107.400 with resistance at 107.760 which both lines are below the weekly pivot point at 108.230. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The price has created a head and shoulder pattern therefore but it seems that the decline has been completed. Buyers can target the middle Bollinger band at 108.